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Note 4 - Regulatory Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Regulatory Assets and Liabilities [Table Text Block]

	June 30, 2020								Remaining Recovery/
(in thousands)	Current		Long-Term			Total			Refund Period (months)
Regulatory Assets:
Prior Service Costs and Actuarial Losses on Pensions and Other Postretirement Benefits¹	$	9,018	$	124,901		$	133,919		see below
Accumulated Asset Retirement Obligation (ARO) Accretion/Depreciation Adjustment¹		-		8,243			8,243		asset lives
Minnesota Transmission Cost Recovery Rider Accrued Revenues²		6,563		-			6,563		12
Conservation Improvement Program Costs and Incentives²		276		3,553			3,829		27
MISO Schedule 26/26A Transmission Cost Recovery Rider True-ups¹		1,500		963			2,463		30
Nonservice Costs Components of Postretirement Benefits Capitalized for Ratemaking Purposes and Subject to Deferred Recovery¹		-		1,974			1,974		asset lives
Minnesota Renewable Resource Rider Accrued Revenues²		722		-			722		12
Debt Reacquisition Premiums¹		204		430			634		147
Big Stone II Unrecovered Project Costs – Minnesota¹		583		-			583		10
Minnesota SPP Transmission Cost Recovery Tracker¹		-		401			401		see below
Deferred Marked-to-Market Losses¹		372		-			372		6
Big Stone II Unrecovered Project Costs – South Dakota¹		144		180			324		27
South Dakota Deferred Rate Case Expenses Subject to Recovery¹		138		177			315		28
North Dakota Generation Cost Recovery Rider Accrued Revenue²		312		-			312		12
North Dakota Deferred Rate Case Expenses Subject to Recovery¹		122		183			305		30
Deferred Lease Expenses¹		-		58			58		33
Minnesota Environmental Cost Recovery Rider Accrued Revenues²		4		-			4		12
Total Regulatory Assets	$	19,958	$	141,063		$	161,021
Regulatory Liabilities:
Deferred Income Taxes	$	-	$	138,517		$	138,517		asset lives
Accumulated Reserve for Estimated Removal Costs – Net of Salvage		-		99,055			99,055		asset lives
Refundable Fuel Clause Adjustment Revenues		10,241		-			10,241		12
North Dakota Transmission Cost Recovery Rider Accrued Refund		1,010		-			1,010		6
South Dakota Phase-In Rate Plan Rider Accrued Refund		783		-			783		2
Revenue for Rate Case Expenses Subject to Refund – Minnesota		-		518			518		see below
Prior Service Costs and Actuarial Gains on Postretirement Benefits		471		-			471		12
Minnesota Energy Intensive Trade Exposed Rider Accrued Refund		198		-			198		3
South Dakota Transmission Cost Recovery Rider Accrued Refund		159		-			159		8
North Dakota Renewable Resource Recovery Rider Accrued Refund		156		-			156		9
Other		5		70			75		162
Total Regulatory Liabilities	$	13,023	$	238,160		$	251,183
Net Regulatory Asset/(Liability) Position	$	6,935	$	(97,097	)	$	(90,162	)

	December 31, 2019
(in thousands)	Current		Long-Term			Total			Remaining Recovery/ Refund Period (months)
Regulatory Assets:
Prior Service Costs and Actuarial Losses on Pensions and Other Postretirement Benefits¹	$	9,090	$	129,102		$	138,192		see below
Accumulated Asset Retirement Obligation (ARO) Accretion/Depreciation Adjustment¹		-		7,772			7,772		asset lives
Minnesota Transmission Cost Recovery Rider Accrued Revenues²		4,208		-			4,208		12
Conservation Improvement Program Costs and Incentives²		4,024		2,844			6,868		21
MISO Schedule 26/26A Transmission Cost Recovery Rider True-ups¹		2,033		968			3,001		24
Nonservice Costs Components of Postretirement Benefits Capitalized for Ratemaking Purposes and Subject to Deferred Recovery¹		-		1,681			1,681		asset lives
Minnesota Renewable Resource Rider Accrued Revenues²		131		-			131		12
Debt Reacquisition Premiums¹		201		548			749		153
Big Stone II Unrecovered Project Costs – Minnesota¹		715		225			940		16
Minnesota SPP Transmission Cost Recovery Tracker¹		-		202			202		see below
Deferred Marked-to-Market Losses¹		743		-			743		12
Big Stone II Unrecovered Project Costs – South Dakota¹		144		253			397		33
South Dakota Deferred Rate Case Expenses Subject to Recovery¹		138		245			383		34
North Dakota Deferred Rate Case Expenses Subject to Recovery¹		122		244			366		36
Deferred Lease Expenses¹		-		54			54		39
Minnesota Environmental Cost Recovery Rider Accrued Revenues²		4		-			4		12
South Dakota Transmission Cost Recovery Rider Accrued Revenues²		97		-			97		2
Total Regulatory Assets	$	21,650	$	144,138		$	165,788
Regulatory Liabilities:
Deferred Income Taxes	$	-	$	141,707		$	141,707		asset lives
Accumulated Reserve for Estimated Removal Costs – Net of Salvage		-		97,726			97,726		asset lives
Refundable Fuel Clause Adjustment Revenues		3,982		-			3,982		12
North Dakota Transmission Cost Recovery Rider Accrued Refund		700		-			700		12
South Dakota Phase-In Rate Plan Rider Accrued Refund		355		-			355		9
Revenue for Rate Case Expenses Subject to Refund – Minnesota		-		401			401		see below
Prior Service Costs and Actuarial Gains on Postretirement Benefits		471		-			471		12
Minnesota Energy Intensive Trade Exposed Rider Accrued Refund		164		-			164		12
North Dakota Renewable Resource Recovery Rider Accrued Refund		1,515		-			1,515		12
North Dakota Generation Cost Recovery Rider Accrued Refund		287		-			287		6
Other		6		72			78		168
Total Regulatory Liabilities	$	7,480	$	239,906		$	247,386
Net Regulatory Asset/(Liability) Position	$	14,170	$	(95,768	)	$	(81,598	)